Tuesday, 27 September 2016
Last updated 58 min ago
Jun 11 2008 | 11:24am ET
Hedge funds continued their resurgence in May, powering their way back into positive territory with a 2.01% return.
The Greenwich Global Hedge Fund Index is now up 0.49% on the year, Greenwich Alternative Investments said. For the second straight month, long/short equity managers were on top, adding 2.35%. Specialty strategies funds rose 2.1%, directional trading funds returned 2% and market-neutral funds added 1.39%.
Investable hedge funds rose 1.66%, Greenwich AI said.
“Across the board, hedge funds performed well in May,” Margaret Gilbert, managing director, said. “But the real story is told when comparing year-to-date performance. Hedge funds are positive for the year compared the major equity indices, which still remain negative.”
The Standard & Poor’s 500 are still down 3.8% year-to-date after a 1.3% return last month.